Piper Sandler Issues Pessimistic Forecast for Krispy Kreme (NASDAQ:DNUT) Stock Price

Krispy Kreme (NASDAQ:DNUT) had its price objective cut by research analysts at Piper Sandler from $18.00 to $12.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 68.30% from the stock’s previous close.

DNUT has been the subject of several other reports. Morgan Stanley downgraded shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $12.00 to $6.00 in a research note on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.50.

Krispy Kreme Price Performance

Shares of DNUT opened at $7.13 on Wednesday. The stock has a market cap of $1.21 billion, a P/E ratio of 41.94, a price-to-earnings-growth ratio of 3.24 and a beta of 1.34. The stock’s 50-day moving average price is $9.11 and its two-hundred day moving average price is $10.40. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. Krispy Kreme has a 1 year low of $6.35 and a 1 year high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.09). Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The company had revenue of $404.00 million for the quarter, compared to the consensus estimate of $413.18 million. During the same period in the prior year, the company earned $0.09 EPS. The firm’s revenue was down 10.4% on a year-over-year basis. On average, equities analysts predict that Krispy Kreme will post 0.07 earnings per share for the current year.

Institutional Trading of Krispy Kreme

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in shares of Krispy Kreme during the 4th quarter valued at $152,305,000. Bamco Inc. NY lifted its holdings in Krispy Kreme by 24.7% during the fourth quarter. Bamco Inc. NY now owns 13,069,717 shares of the company’s stock valued at $129,782,000 after purchasing an additional 2,588,398 shares during the last quarter. Cooper Creek Partners Management LLC boosted its position in Krispy Kreme by 43.0% during the fourth quarter. Cooper Creek Partners Management LLC now owns 7,264,760 shares of the company’s stock worth $72,139,000 after purchasing an additional 2,186,136 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Krispy Kreme in the fourth quarter worth about $10,591,000. Finally, Paloma Partners Management Co raised its position in shares of Krispy Kreme by 6,993.4% in the third quarter. Paloma Partners Management Co now owns 872,068 shares of the company’s stock valued at $9,366,000 after purchasing an additional 859,774 shares during the period. 81.72% of the stock is owned by hedge funds and other institutional investors.

Krispy Kreme Company Profile

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.